Plans to improve oil production facilities in Indonesia are underway to meet rising local consumption of oil and in effect, increasing drilling-related expenses reimbursed by the national government
Deals
Nigerian business magnate Aliko Dangote to reduce stake in Dancem by October
Dangote Industries Ltd, Alhaji Aliko Danagote's holding company, has up till October 26 to sell down or dilute its stake in cement manufacturer Dangote Cement PLC. The reduction in shareholding will enable the cement company to comply with flotation regulations in Nigeria's bourse.
Royal Bank of Canada is top dealmaker on Canadian retail M&A- report
The top dealmaker for Canadian retail mergers and acquisitions for 2013 is the Royal Bank of Canada, data from Bloomberg revealed. RBC has held the top spot for the third straight year.
Morningstar data shows outflows of $2.08 billion in December from DoubleLine's flagship fund
The outflows of Jeffrey Gundlach's DoubleLine flagship fund in December last year amounted to $2.08 billion, according to research firm Morningstar's data, marking the seventh month in a row that investors have withdrawn money from the fund.
ARX Equity Partners exits majority stake in film extruder Ergis
ARX Equity Partners, a private equity firm based in Czech Republic, has sold its controlling stake in film extruder Ergis-Eurofilms SA. Ergis claims to be the largest film extrusion group in the country.
Latest News
Despite recording huge losses in 2013, gold and silver investments are seen increasing, and analysts attributed these to the improving major economies, including the US.
Google Inc., which acquired startup Bump Technologies last year for $30 million to $60 million, will end the operations of smartphone file-sharing app Bump and photo-aggregating software Flock on January 31.
The African private equity industry in Africa may be young and subject to various shortcomings but political stability, infrastructure growth and increasing consumer activity has given it a more positive outlook for this year, the Financial Times reported.
The Wall Street Journal reported that institutional investors will best remember 2013 as a year of record gains, as buoyant markets facilitated IPOs and debt deals that paid hefty dividends.
New York-based cosmetics company Revlon, which has posted profit declines in 2011 and 2012, will close its operations in China, cutting at least 1,100 jobs. News of the shutdown came a few months after Revlon bought Spanish beauty care company Colomer Group.
Data from Cambridge Associates showed that 2013 was a good year for private equity as they returned $120 billion to their institutional backers, the San Francisco Business Times reported.
Cargo airline Evergreen International Airlines Inc. on December 31 filed for bankruptcy protection in the US Bankruptcy Court in Wilmington, Delaware. Seven other Evergreen affiliates also sought Chapter 7 protection.
Indian companies were able to get private equity deals worth $10.68 billion in 2013, an increase of 12% in value terms compared to that of the previous year.
Northern & Shell, the owner of Channel 5 Broadcasting Ltd., is reportedly considering to put up the TV broadcaster for sale for £700 million. Northern & Shell acquired Channel 5 for £103.5 million in 2010.
